Hearst-Argyle Q4 Revenues Fall 9%
February 25, 2009 at 5:30 PM (PT)
HEARST-ARGYLE TELEVISION fourth-quarter revenue fell 9% to $197.1 million, leading to net income dropping from a gain of $33.645 million (36 cents/share) to a loss of $552.149 million ($5.90/share), which includes a non-cash impairment charge of $926 million pre-tax, $570 million after-tax, or about $6.09 per share, plus non-recurring writedown items amounting to $14.3 million pre-tax, $10.2 million after-tax, or about $0.11 per share.
The company manages HEARST's Talk WBAL-A and Rock WIYY (98 ROCK)/BALTIMORE. Radio financial results are not broken out in the company's quarterly reports.